Industry Analysis & Industry Trends
The Hearing Aid Clinics industry is expected to grow during the five years to 2016. Following a multiyear drop during the recession, the industry has rebounded thanks to beneficial demographic trends, the expansion of private healthcare coverage and, ultimately, the improving economy. Because Medicare, the government-funded health insurance program that provides coverage for adults over the age of 65, does not cover hearing aids, out-of-pocket payments for industry products have remained important during the five years to 2016. Consequently, the rise in disposable income has benefited industry operators during this period. The persistence of current trends is expected to further grow the industry over the next five years.... purchase to read more
Industry Report - Industry Products Chapter
In addition to the type of hearing aids discussed below, hearing aid styles vary. Behind-the-ear aids account for 69.2% of revenue, in-the-ear aids account for 13.6% of revenue, completely in-canal account for 10.4% and in-the-canal account for 6.8%. The style of hearing aid is dependent on the level of hearing impairment, listening requirements of the consumer and personal preferences.
Digital hearing aids
Digital hearing aids are estimated to account for 50.0% of industry revenue in 2016. Digital hearing aids are similar to analog hearing aids but have more technological advancements and are generally more costly. Digital hearing aids use digitized sound processing to provide a clear, amplified, distortion-free sound... purchase to read more